At least it seems that way. 11 Langhorne, all 26,415 sq. ft. of it, has dropped its price again, down to $19,050,000. This warehouse was just one of the many brainstorms that brought down the Antares Boyz back in the day. They originally offered it at as an unfinished shell for $28,000,000, reasoning that someone would gladly pay that much just to get a jump on the years it took to (illegally) drain the wetlands, gain building approval and frame this one up. That was back in 2007, height of the market, yet it still didn’t work. When the Boyz crashed and burned in 2008 a disgruntled creditor “bought” this for $13,750,000, though the talk at the time was that he just assigned it the value of an otherwise uncollectable debt.
Whatever the truth of the matter, the new owner tried reselling it for $14 and when that failed, spent the money to finish it and tried again in 2010, pricing it at $27,500,000. The success of that strategy is seen in today’s latest price cut, to $19. Somehow, I expect there will be more.
So what’s in a house this large? There’s a small indoor lap pool, but no pool outside, and not even a modest tennis court. There is what the listing promises is a “fiber optics trading floor” though at this price, you’d think that should be “fibre”. What looks to be a commercial food locker is pictured above; I think it’s a food locker, but it might be that trading floor. And then the usual high end stuff which, frankly, all starts to look the same after awhile. Have you ever seen a truly unique, one-of-a-kind toilet, for instance? Neither have I, and if you’re like me and hope never to see one then come visit here – its soil closets appear to be identical to those used elsewhere by lesser folks, maybe even the gardeners who till these very grounds.
As an aside, only a real estate listing could show a build date of 2011 for a house that was essentially finished six years ago. But that’s a quibble. The place remains empty and is still looking for a buyer. If you’re that special person, do drop in.